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  • By Steve Slater and Kirstin Ridley. LONDON, Oct 2- UK short-term lender Wonga is writing off the outstanding debt for around 330,000 customers at a cost of about 220 million pounds, after being forced to overhaul its lending practices by Britain's financial regulator. Privately owned Wonga is the biggest such lender in Britain.

  • KIEV, Oct 2- Ukraine's economy is likely to shrink by 8 percent this year and contract again next year because of the effect of the separatist war in the industrialised east, the World Bank said on Thursday. The bank had previously expected Ukraine's gross domestic product would contract by 5 percent this year and then grow 2.5 percent next year.

  • PUTIN SAYS RUSSIA WILL AIM TO SHIFT TO NATIONAL CURRENCIES IN TRADE WITH CHINA AND OTHER COUNTRIES.

  • PUTIN SAYS RUSSIA WILL NOT IMPOSE RESTRICTIONS ON CROSS-BORDER CAPITAL, CURRENCY MOVEMENTS.

  • *PUTIN SAYS RUSSIA TO REMAIN OPEN MARKET ECONOMY Thursday, 2 Oct 2014 | 5:46 AM ET
  • Fiat needs more than the 500 to turn core brand around Thursday, 2 Oct 2014 | 5:43 AM ET

    *Fiat to unveil 500 X at this month's Paris auto show. PARIS, Oct 2- While rivals roll out new models and concept cars, Fiat has little to show at the Paris auto show besides another variant of its retro-styled 500 compact car, in what is starting to look like a worrying trend for the carmaker's namesake brand. "The 500 is getting older and older, the success of its variants...

  • CAIRO, Oct 2- Egypt's economy is set to grow 3.3 percent this fiscal year, according to economists polled by Reuters, who nudged up their forecasts from last quarter as confidence has started to return. Egypt has received more than $12 billion in aid from Gulf states since ex-army chief Abdel Fattah al-Sisi ousted president Mohamed Mursi of the Muslim...

  • MOSCOW, Oct 2- Foreign-led projects lifted Russian oil output last month to within reach of a post-Soviet record, showing the potential in the country's existing fields, which are largely unaffected by Western sanctions over Ukraine. Oil production rose in January-September by 0.7 percent year-on-year, showing that Moscow has not curbed its output to prop up...

  • NAPLES, Italy, Oct 2- The European Central Bank will present details on Thursday of a new asset-buying plan with which it hopes to revive the flagging euro zone economy and see off the spectre of deflation. That prospect has already stirred controversy in Germany and elsewhere. ECB President Mario Draghi said late on Wednesday the council would discuss how it can...

  • PARIS, Oct 2- Toyota Motor Corp expects to ride out the worst effects of the slump in Russia's car market, a senior executive said at the Paris auto show, and is sticking to its target of increasing sales to a million vehicles in Europe next year. "There is a lot of uncertainty in Russia... people are more reluctant to spend money; this is why the entry market is much more...

  • *Russia central bank's new scenario envisages $60 oil price. MOSCOW, Oct 2- Russia's central bank will not introduce restrictions on cross-border capital and currency movements even under its worst-case scenario where oil falls to $60 per barrel, Governor Elvira Nabiullina said on Thursday. The central bank said on Wednesday it was working on a "stress...

  • SAO PAULO, Oct 2- Mergers and acquisitions in Brazil gained momentum in the third quarter despite rising economic and political risks, as foreign companies and private-equity firms scoured for takeover targets, hoping to tap the country's long-term potential. Companies announced $23.26 billion worth of deals in Brazil between July 1 and Sept. 30, up 76 percent...

  • LONDON, Oct 2- World stocks were knocked hard on Thursday after global manufacturing data and an Ebola health scare in the United States spooked markets, sending investors scurrying to the safety of U.S. bonds, the yen and gold. All that pushed MSCI's 45- country world stock index to a five-month low and Britain's FTSE, Germany's DAX and France's CAX fell 0.3-0.6...

  • UKRAINIAN WORLD BANK CHIEF REPRESENTATIVE SEES UKRAINIAN ECONOMY SHRINKING BY 8 PCT IN 2014 VERSUS PREVIOUS OUTLOOK OF 5 PCT CONTRACTION.

  • LONDON, Oct 2- Oil prices hit their lowest level since June 2012 on Thursday, dropping below $93 a barrel, as official oil price cuts from top producer Saudi Arabia added to supply glut worries and weak global economic data. Oil declined together with European stocks ahead of a European Central Bank meeting on Thursday, as investors are waiting to see if Bank chief...

  • LONDON, Oct 2- British construction activity grew at one of the fastest rates on record last month, though slower rises in new orders and employment raise questions about the durability of the upturn, a survey of purchasing managers showed on Thursday. The Markit/ CIPS construction PMI rose to 64.2 in September from 64.0 in August, beating economists'...

  • Oct 2- Electrocomponents Plc, a British distributor of electronic products for engineers, said it expects to report a smaller first-half operating profit, hurt by fewer trading days and adverse currency movements. Electrocomponents' shares fell as much as much as 5 percent to 208 pence on Thursday morning, taking the stock to its lowest in more than two years.

  • LONDON, Oct 2- The yen held its gains against the dollar on Thursday after weak manufacturing surveys from around the globe and an Ebola health scare in the United States sent investors in search of safer assets. The European Central Bank holds its monthly policy meeting later in the day, after which ECB President Mario Draghi is expected to give further details...

  • European shares hit five-week low; eyes on ECB Thursday, 2 Oct 2014 | 4:10 AM ET

    *Allianz slips as Pimco suffers massive outflows. PARIS, Oct 2- European shares fell in early trading on Thursday, with a benchmark index hitting a five-week low as soft global manufacturing data prompted investors to cut equity holdings worldwide. Shares in Allianz fell 0.4 percent, adding to recent sharp losses, after the firm's asset management unit Pimco...

  • MOSCOW, Oct 2- The Russian Central Bank will not introduce restrictions on cross-border capital and currency movements in its worst-case scenario that envisages oil prices falling to $60 per barrel, the bank's governor, Elvira Nabiullina, said on Thursday. "There will not be any restrictions, not even in the' stress scenario'," Nabiullina told journalists on the...